Goa is located in the western region of India. The state shares its borders with the Arabian Sea to the west, Maharashtra to the north and Karnataka to the south and the east. It is traditionally known as a tourist paradise for its natural scenery, unique beaches and cultural diversity.
Goa is one of the fastest growing states in the country. The Gross State Domestic Product of Goa at current prices increased at a Compound Annual Growth Rate (CAGR) of 8.78 per cent from 2011-12 to 2016-17. Goa’s net state domestic product (NSDP) was Rs 587.71 billion (US$ 8.76 billion) in 2016-17. Goa's economic growth is driven by the strong performance of industrial sectors such as mining, tourism and pharmaceuticals.
Goa is the second state in India to achieve a 100 per cent automatic telephone system with a solid network of telephone exchanges. As of April 2018, Goa had a total installed power generation capacity of 549.41 MW. Goa is also one of the few states in India to achieve 100 per cent rural electrification.
Goa has a well-developed social, physical and industrial infrastructure and virtual connectivity. It has an international airport that is in line with its importance as a globally-recognised leisure destination. It also has significant port infrastructure. The state has an established base for the pharmaceuticals industry and an emerging destination for knowledge-based industries such as biotechnology and IT.
According to the Department of Industrial Policy & Promotion (DIPP), FDI inflows into the state of Goa, during April 2000 to December 2017, were US$ 965 million.
- In April 2017, 6 rivers of Goa – Mandovi, Zuari, Chapora, Sal, Mapusa & Chumbharjua – have been notified by the union government as national waterways under the National Waterways Act, 2016.
- Union Ministry of Home Affairs (MHA) has identified five islands in Goa, namely St George Island, Grande Island, Pequeno Island, Conco Island and Bhindo Island to carry out holistic development.
- Goa government has approved the Rs 981 crore (US$ 144.1 million) proposal for Panaji Smart City which will have a major focus on eco-mobility, public transport system and improvement of conservation zones.
- For the development of ‘Ease of doing business’ and ‘investor friendly ecosystem’ initiatives in the state, the state government has proposed to establish an EMS (Electronic Monitoring
- In April 2017, the state government announced an IT fund worth US$ 25.13 million, out of which USD 2.23 million is to be used for boosting the startup sector in the state. The government has also proposed a startup promotion board, and USD 74,371.56 to encourage incubation centres across the state.
- Goa currently* has a total of 38 operational mining leases with a reported production of 6.08 million tonnes in 2017-18 (up to December 2017). Exports of iron ore reached 17.64 million tonnes between September 2015 and November 2017. Total Iron Ore1 traffic handled at Mormugoa Port, Goa in 2017-18P was 10.26 million tonnes.
- The state is in the process of developing the logistics sector in Goa by forming a special logistics group and constructing several bridges to address the existing deficiencies with regard to logistics and warehousing.
- The Government of India has granted the approval to the state government for constructing the Electronics Manufacturing Cluster in Tuem by providing a central assistance of US$ 7.63 million.
- During January to December 2017, the number of passengers who arrived in the state on the basis of e-tourist visas was recorded to be 133,798. Moreover, the state recorded a total of 851,048 foreign tourists from over 141 countries across the globe.
- During 2015-16, the state government created a separate District Mineral Foundation under the MMDR Act, 1957, as per which the state’s mining firms need to deposit an additional amount of 30 per cent of the royalty paid to this fund.
- Export of pharmaceuticals products from Goa was recorded to be 5,076 metric tonnes during 2015-16.
- Goa has a coastline of about 104 kms and inland waterways of about 250 km. The coast is full of creeks and estuaries formed by rivers. Fish production in the state reached 117.9 thousand tonnes in 2016-17.
*during 2017-18 1 – Includes Pellets, P - Provisional